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How can society improve its living standards? What are the conditions necessary for prosperity? These are the questions that define the essence of growth theory. In this user-friendly book, Olivier de la Grandville provides a fascinating introduction to the theory of economic growth and shows how many results from this field are of paramount importance for society. The classical mechanics of the growth process are carefully explained, with two chapters devoted to the fundamental issue of the substitution of labor for capital in the growth process (co-written with Robert M. Solow, winner of the Nobel Prize in Economics). The book also addresses the fundamental question of the optimal investment rate of an economy. In addition, de la Grandville shows us that by unifying the descriptive and normative aspects of growth theory we can generate many fresh insights, including a proof of Adam Smith's 'Invisible Hand' conjecture.
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Previews available in: English
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1
Economic Growth: A Unified Approach
2016, Cambridge University Press
in English
1316335704 9781316335703
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2
Economic Growth: A Unified Approach
2016, Cambridge University Press
in English
110711523X 9781107115231
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3
Economic Growth: A Unified Approach
2016, Cambridge University Press
in English
1107535603 9781107535602
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Economic Growth: A Unified Approach
2016, Cambridge University Press
in English
1316560317 9781316560310
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Economic growth: a unified approach
2008, Cambridge University Press
in English
0521898013 9780521898010
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